Bakkt to acquire 30% stake in Japan's Marusho Hotta
2025-08-06 19:02:28
Crypto infrastructure company Bakkt has announced that it will acquire about 30% of Japan's Marusho Hotta, becoming its largest shareholder, and plans to change its name to "bitcoin jp" and transform it into a bitcoin-centric digital asset treasury platform. After the transaction is completed, Phillip Lord, president of Bakkt International, will become the CEO of the new company. The move is part of Bakkt's strategy to promote the global bitcoin treasury. In June this year, Bakkt submitted a $1 billion financing plan and completed a $75 million fundraising in July to buy bitcoin and other assets. The transaction and name change are subject to shareholder approval.
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